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5/19/2021

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with the American Bankers Association Board of Director…

READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting
with the American Bankers Association Board of Directors
May 18, 2021

Earlier today, Secretary of the Treasury Janet L. Yellen met with members of the American
Bankers Association (ABA) Board of Directors to discuss ways the Treasury Department and
the ABA can work together to facilitate a strong recovery over the short-term and a robust
economic expansion over the longer-term. The Secretary highlighted the role of banks as a
necessary source of strength due to their critical role channeling emergency government
support to households and businesses through the Paycheck Protection Program and
Economic Impact Payments. The Secretary also noted the crucial role banks can play as part
of the Biden Administration’s historic investments in both infrastructure and the essential
services for families -like childcare- to help drive broad-based growth.
The Secretary also underscored the need for banks to embrace new technologies in coming
years to expand financial services to underserved communities and the need for banks and
regulators to collaborate to ensure robust and fair competition as technologies change
financial intermediation
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https://home.treasury.gov/news/press-releases/jy0186

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